The financial turmoil of the last two years has left leasing companies based on traditional manufacturers with huge losses. Despite these losses and the aggressive low-interest financing offered by many auto finance companies, leasing still makes economic sense. Plus, if you’re patient and look into leasing companies outside of the direct manufacturers, you can get a great deal on a new car of your choice. A good alternative place to find great rental rates is your local community banks and credit unions. Here are some of the important reasons you still want to lease a new car in 2010.

Reason #1: More money in your pocket

With a lease, you only pay for the part of the car (depreciation) that you use during your lease. Initially, you don’t have to put that much money. In fact, if you’re a good negotiator, you may not even have to put up any money. This translates to a lower monthly payment. Then, you can use the money you save in traditional financing for other important personal needs.

Reason #2: Security and technology

Every few years, manufacturers update their cars to take advantage of advances in technology and safety. Since most leases only last about 3 years, you get to drive the safest and most advanced vehicles in production. This is important if you have children or spend a lot of time on the road. Some of the major advances that have occurred with automobiles in the last two years are improved entertainment systems, more accurate GPS systems, electronic stability, and accident detection systems.

Reason #3: Flexibility in buying a car

A lease basically allows you to take a long-term test drive of the car. If you like the car and are not interested in the latest safety and technology of the newer models, you have the ability to purchase the car at the end of the lease. By keeping the car in good condition during the lease, you won’t have to spend time inspecting the car, haggling with mechanics, or worrying that you’ll get a defective car at purchase because you’ve had the car since it’s new.

If you decide you don’t want to buy your car at the end of your lease and your car remains in good condition, you can simply drive the car back to the dealership, hand the keys over to the sales manager, and drive away. No questions asked.

Reason #4: Lease terms are negotiable

Don’t accept a lease on the first offer from the car dealer. In fact, a dirty little secret about car leases is that most terms can be negotiated if you have a little skill. Some of the most common rates you can negotiate are, your down payment, trade-in allowance if you have a previous vehicle, additional mileage, the sale price of the car, and in some cases if you push the money factor (interest rate) hard enough. .

Most of the time, the first seller to help you is not the person who will give you the best price on your lease. Usually you want to ask for the sales manager. These guys have a lot more authority in terms of making deals. If they sense you’re serious about the car but aren’t happy with the terms of the lease, they’ll usually agree with you.

When negotiating, a good tactic is to never agree to a lease on your first appearance at the dealership. Offer the seller lease terms that are lower than what you claim is his best offer. Make sure they have your phone number, then walk out of the dealership. A good 80% of the time the salesperson will call you back in a couple of days and say they were able to get you the deal you want. Another good tactic is to try to negotiate your lease at the end of the month. Many dealerships are trying to do their end-of-month sales numbers. If they’re short on a few cars, they’re motivated to give you an amazing deal because their bonuses usually depend on the total number of cars sold that month.